I have spent all evening last night and the last 4 hours reading through my 1995 reprint hardback (picked it up for £2 and a coffee!) and, although it has less material than some of those described, it is still HUGE and would be a bargain at ten times the price I paid. To describe it as anything less than encyclopaedic would be a bit mean! However, it has highlighted a few issues for newcomers to magic (I studied for a couple of months, then had to stop to finish my degree, so I'm basically back to square 1)
1. I will say it again - the book is HUGE. It's a bit intimidating, compared to the royal road, which neatly works you through the book (I've misplaced mine

2. Some of the tricks are certainly aimed at beginners (as they should be) and I actually quite wrongly labelled a trick as being a bit naff before I tried it in front of a mirror. In actual fact, the simplest tricks can often be the most effective, and so I wound up impressing myself just 10 minutes ago!
3. Choose a section you want to do. This is not a book you just work through - it's HUGE. I have recently lost my cards to a particularly excessive drinking game (which proved to be a useful place to show off a couple of tricks!) so I won't bother even looking at the cards section yet. I'm interested in cards, coins and mental magic, so for me right now, a lot of the book is a bit useless.
I think this book is very much a resource material. There are some truly beautiful effects in it, and many of them are completely new to me. I don't think it will be my main area of study (unlike Bobo's, RRTCM etc). However, it will be a reference guide, a revision guide and it will be good for picking up an area of magic before investing in it. It's also a really good read - I'm enjoying just reading the thing, which isn't so much the case with some other texts, which are strictly worded for high concentration and study.
Much love
Paul (a returning newcomer)